Bonds issued under the Institution Bond Act shall be payable not later than fifty years from the date of issue and in consecutive order commencing not later than two years from the date of issue. They shall be in denominations determined by the governing board of the state institution. The form of the bonds shall be determined by the governing board of the state institution and signatures may be affixed in compliance with the Uniform Facsimile Signature of Public Officials Act [6-9-1 to 6-9-6 NMSA 1978].
History: 1953 Comp., § 11-9-5, enacted by Laws 1963, ch. 298, § 5; 1983, ch. 265, § 26.
Repeals and reenactments. — Laws 1963, ch. 298, § 5, repealed former 11-9-5, 1953 Comp., relating to denominations of negotiable coupon bonds and their forms, and enacted a new 6-13-5 NMSA 1978.
Structure 2021 New Mexico Statutes
Article 13 - Institution Bonds
Section 6-13-2 - State institutions.
Section 6-13-3 - General borrowing authority.
Section 6-13-4 - General bonding authority.
Section 6-13-5 - Bonds; form; terms.
Section 6-13-6 - [Sale of bonds.]
Section 6-13-7 - [Proceeds from sale of bonds; building and improvement fund; expenditures.]
Section 6-13-8 - [Interest and retirement fund; establishment; purpose.]
Section 6-13-9 - [Pledge of income from permanent funds of state institutions.]
Section 6-13-11 - Bond payment.
Section 6-13-13 - [Bonds issued in series.]
Section 6-13-14 - [Limitation on amount of issue.]
Section 6-13-15 - [Exemption from taxation.]
Section 6-13-16 - [Funds derived from sale of bonds; restrictions on use.]
Section 6-13-17 - [Issuance and sale of bonds; approval of state board of finance.]
Section 6-13-18 - Security; priority of liens.
Section 6-13-19 - Refunding; purposes.
Section 6-13-20 - Refunding; issuance of bonds.
Section 6-13-21 - Refunding; conditions of bonds.
Section 6-13-22 - Refunding; escrowed proceeds.
Section 6-13-23 - Refunding; payment of bonds.
Section 6-13-24 - Refunding; bonds retired.
Section 6-13-25 - Refunding; priority of liens.